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Collaborations, or strategic partnerships, are a great way to manage your business, particularly if you’re just starting out. You’re only one person, and might not have certain funds, time, skills, to really make your big dream a reality.
We see a lot of huge collaborations by big business every day: Uber and Messina Gelato, Samantha Wills and Yellowglen, Jay-Z and Bing. But even if you’re small, doesn’t mean you can’t leverage a great collaboration.
Jessica Ruhfus from start-up website, Collabosaurus, was one of our recent guest speakers at the Cereal Entrepreneurs event, #like4like. She defines collaborations as: “two brands working together to get awesome marketing exposure, engage their communities and grow their business.” Done well, it can be beneficial for both brands and doesn’t have to cost much, if anything at all.
One of our previous clients at Dream & Do ran a kids party company, and came to us for advice on our to grow her business so that she could focus on her other passion, photography. We suggested she contact some cake companies and then form a strategic partnership. The promotion was that each kids party booked through her received 20% off a cake, and vice versa. It was exposure for both brands that serve a similar purpose, and also made the customers happy! Cake and party, what’s not to love?
“You have something that someone else wants. Think outside the box here - it’s not just about money and social media. What about your skills? Perhaps you’re a photographer or graphic designer; your photography and your design are your assets. Scribble down all of the assets you have, big and small! Refine them, know them and use them in leveraging a strategic partnership.” - Jess Ruhfus, Collabosaurus
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